Lumino Industries has filed preliminary papers with capital markets regulator -- Securities and Exchange Board of India (SEBI) to raise 1,000 crore through an initial public offering (IPO). The Kolkata-based company's IPO is a combination of a fresh issue of shares worth Rs 600 crore and an offer-for-sale component of up to Rs 400 crore by promoters. The offer also includes a subscription reservation by eligible employees.
Proceeds from the fresh issue to the extent of Rs 420 crore will be used for payment of debt, Rs 15.08 crore for purchase of equipment and machinery, civil works and interior development of an existing manufacturing facility; and a portion will be used for general corporate purposes.
Lumino Industries is a product-centric, integrated engineering, procurement, and construction (EPC) company in India, specialising in the manufacturing and supply of conductors, power cables, electrical wires, and other specialised components for the power distribution and transmission sector.
